Profit Booking To Be Seen Before 11000 Get Breached For Nifty, Go Long At Dips

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market is still bullish and would continue to see positive momentum until 10800 holds for Nifty. EquityPandit also predicted that traders can continue to hold long positions with stoploss below 10800 for Nifty and exactly same happened. Indian Stock Market moved sharply positive and traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in positive zone but 11000 would act as immediate resistance and market would see some profit booking for today. US Fed has hiked the interest rates and Indian Stock Market would remain under pressure. Overall, market is positive but today we would see some profit booking but traders can go long at dips until Nifty holds above 10800 levels.

FIIs were net buyers of Rs.1209.21 crores whereas DIIs were net sellers of Rs.481.46 crores in cash market for last trading session. Nifty would see strong support at 10900-10840-10800 whereas strong resistance would be seen 11000-11025-11078-11095-11145 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (10967) The support for the Nifty is 10900-10840-10800 and the resistance to the up move is at 11000-11025-11078-11095-11145 levels.

NSE BankNifty: (27298) The support for BankNifty is at 27200-27045-26955-26865-26800 and the resistance to the up move is at 27380-27456-27600 levels.

BSE Sensex: (36484) The support for the Sensex is at 36340-36227-36100-36065-35950 and the resistance to the up move is at 36555-36600-36660-36700-36747 levels.

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